Raymond James Upgrades Alphabet to Strong Buy, $400 Price Target
Raymond James analyst Aaron Kessler upgraded Alphabet (NASDAQ: GOOGL) from Outperform to Strong Buy with a price target of $400.00 (from $315.00).
“The Call: While we were constructive on checks/DOJ potential last year (LINK), our updated bottom-up analysis of GCP (GPU, TPU, PaaS) and Search (Core, AIO, AIM, Gemini) leads to a material upward revision in 2026/27 estimates with RJ sitting at the Street high for 2027 revenue, prompting an upgrade from Outperform to Strong Buy.
We believe GOOG is likely entering a cycle of improving AI Stack narrative and upward revisions that could create one of the highest quality top-line AI acceleration stories in the public universe.
Our baseline assumption for 2026 is that the AI Stack narrative and fundamental revisions will be the primary mega-cap Internet performance drivers as opposed to the mean reversion trade (i.e., buying depressed/ selling elevated multiples).”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
